The Consumer Financial Protection Bureau has released a report examining trends in credit reporting of debt in collections from 2018 to 2022. The report finds that the total number of collections tradelines on credit reports declined by 33%, from 261 million tradelines in 2018 to 175 million tradelines in 2022. The share of consumers with a collection tradeline on their credit report decreased by 20% in the same timeframe. The CFPB also released additional analysis examining factors that increase the likelihood of inaccurate medical collections reporting and may contribute to the decline in medical collections tradelines.
A summary of the report, along with a link to the report itself, is here.
